What does “Panda” mean?

'Panda' describes a chronograph dial in a light colour with contrasting dark subdials, which together resemble a panda's face. In the Rolex world it most often means the Cosmograph Daytona 116500LN with a white dial and black subdials, launched in 2016 with a black ceramic bezel, and its successor the 126500LN, introduced in 2023. The term is also used for vintage Daytonas and for other brands' chronographs with the same dial layout.

The white-dial modern Daytona has generally been in greater demand than the black-dial version, so dealers often price the two slightly differently. When buying, check the card date, the full set and whether the watch is unworn. Note the movement change between generations: the 116500LN uses caliber 4130, the 126500LN caliber 4131, and the newer model also has subtle dial and case refinements. Some purists argue that 'Panda' should apply only to vintage Daytonas, so stating the reference avoids confusion.

Example: 'Panda 116500LN, 2021 card, full set, unpolished.'